BRP plans to acquire Telwater, the largest aluminum boatbuilder in Australia. BRP said in a statement that it has entered a definitive agreement to acquire 80 percent of the company’s outstanding shares. Paul Phelan, Telwater’s current owner and managing director, will continue to “play an important role in the operations” and will be the minority shareholder with 20 percent of outstanding shares, according to the statement.
“We are excited to start this new chapter of our journey by joining forces with a global leader like BRP,” said Phelan in the statement. “This acquisition means we can continue our growth here and abroad, and leverage BRP’s know-how and capacity to constantly innovate. Our local knowledge and expertise will be put to good use by BRP’s Marine Group and we are looking forward to being part of the BRP family.”
“Telwater was especially attractive to us because of our strong existing relationship with them and the passionate people in Coomera, representing a great opportunity to reinforce our presence in Australia,” said José Boisjoli, president and CEO of BRP, in the statement. "This is one more piece of the puzzle in our strategy to transform the marine industry and a chance for us to further our goal of becoming a leading global marine company by investing in the current leader in this region.”
Telwater will join the BRP Marine Group as an independent product line, said the statement, along with the Evinrude, Alumacraft and Manitou brands. Boisjoli noted that having a manufacturing footprint in Australia will give BRP “additional options for supporting other product lines in the future.”
The acquisition is expected to be completed in the second quarter of BRP's fiscal year 2020.